https://www.taxtmi.com/article/detailed?id=9897 The central issue is whether payment labelled as goodwill to retiring partners is a taxable supply under GST. The AAR permitted withdrawal because the applicant did not provide the accounts and methodology used to arrive at goodwill, leaving the matter undecided. The author argues that inherent goodwill is a firm asset and that retirement payments represent a partner's share in net partnership assets, not a transfer of property; accordingly such payments lack the characteristics of a taxable supply under GST. en-us Mon, 12 Jul 2021 11:56:34 +0530 Mon, 12 Jul 2021 11:56:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9897 The central issue is whether payment labelled as goodwill to retiring partners is a taxable supply under GST. The AAR permitted withdrawal because the applicant did not provide the accounts and methodology used to arrive at goodwill, leaving the matter undecided. The author argues that inherent goodwill is a firm asset and that retirement payments represent a partner's share in net partnership assets, not a transfer of property; accordingly such payments lack the characteristics of a taxable supply under GST. Articles Goods and Services Tax - GST Mon, 12 Jul 2021 11:56:34 +0530 https://www.taxtmi.com/article/detailed?id=9897